NU Online News Service, Nov. 16, 1:53 p.m. EST
The casualty-insurance market, while still soft, appears to be at the bottom of the pricing cycle, and on the property side, insurers continue to transition away from soft-market conditions, driven by catastrophe-loss increases, according to insurance broker Lockton.
In a Nov. 12 Market Update, Mark Moreland, executive vice president and director of risk management at Lockton, says declining underwriting results and pressure on investment yields have weighed on the casualty market through the 2011 first half. "As a result of these losses, carrier combined ratios declined to [110.5], which is the worst six-month result since 2001," Moreland says in the market update.
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
